Investors play a vital role in stock exchange. Sometimes the decisions are based on rational behavior and
sometimes these decisions consist of irrational behavior. Traditionally researchers argued that investors
behave like a rational agent. This study explores the investor's cognitive biases and how these biases put affect
on investor decision. At the same time due to globalization stock market situation is changed day by day even
after few seconds.
The research examined and explored the impact of cognitive biases on risky investment decision and foremost
intention of this study to check the effect of cognitive biases on risky investment decision and more specifically
the effect of mediating variable on risky investment decision. There are numerous biases which are putting
affect on investor decisions but this study explores the combined effect of two biases i.e. heuristic and
overconfidence on risk perception, which is mediating variable and also examined the effect of these cognitive
biases on risky investment decision.
This study is conducted at three stock exchanges; KSE, ISE and LSE. As this study belongs to the behavior of
investor so it comprise of primary data. For this purpose adapted questionnaire is used. 450 questionnaires
are distributes out of which 400 questionnaires are returned. The data is run on SPSS. To check the reliability
of questionnaire, Cronbach's alpha is applied and the result of reliability is above than 0.7 which is considered
to be fit tool for research. Descriptive statistics are used to check the frequency of each respondent towards
their age, business tenure and respective stock exchange.
The study finds a significant relationship between cognitive biases (heuristic and overconfidence) and risky
investment decisions. There is partial mediation between overconfidence and risky investment decision and
full mediation between heuristic and risky investment decision while risk perception is a mediating variable.
Study also indicates that risk perception have also positive and significant relation with risky investment
decisions.
سی حرفی ۔۸ (تن بیتاں وچ مکمل) الف آماہی، ’ب‘ بہت تھکی، ت تاہنگ تیری پئی مار دی اے ث ثابتی نہیں، ’ج‘ جگر باہجوں، ’ح‘ حالت گئی گھر بار دی اے خ خوشی گئی، ’د‘ دکھ بہتے، ’ذ‘ ذکر تے فکر سب یار دی اے ر رب وارث، ’ز‘ زاریاں دا، ’س‘ سک حنیف دیدار دی اے
ش شوق لگا، ’ص‘ صادقاں دا، ’ض‘ ضعف نہیں کجھ نتار دا اے ط طوق پیا، ’ظ‘ ظالماں دا، ’ع‘ عاشقاں ہانگرا دار دا اے غ غم لگا، ’ف‘ فکر ڈاہڈا، ’ق‘ قسم مینوں شوق یار دا اے ک کون کٹے، ’ل‘ لکھ دتا،’م‘ مویاں نوں یار کیوں مار دا اے
ن نیہہ ڈونگھی، چڑھی گھٹ کالی، اساں لنگھنا پہلڑے پور یارو و واہ کوئی نہیں، ہور راہ کوئی نہیں، ’ہ‘ ہڑ دا سماں ضرور یارو لا لا مکان دا پتہ دسے، ’ی‘ یاد نہ مان غرور یارو ے یار حنیف بھلائی دنیا، کیڈ پائے نیں عشق فتور یارو سی حرفی۔۹ (ہک بیت وچ اٹھ حرف) الف الٰہی، میل ماہی نوں، ’ب‘ برے دن آئے نیں ت تلوار برہوں دی لٹکے، ’ث‘ ثواب کمائے نیں ج جوانی آخر فانی، ’ح‘حائل غم آئے نیں خ خوف حنیف وچھوڑے اندر، ’د‘ دکھاں دے سائے نیں
ذ ذکر تیرے وچ رہندی، ’ر‘ رخ ویکھاں ماہی دا ز زیارت لکھ ثواباں، ’س‘ سوہنا چن چاہی دا ش شوخاں دے ناز نہورے، ’ص‘ صفا دل چاہی دا ض ضدی سنگ دل حنیف اے، مان حسن دی شاہی دا
ط طواف کریں دن راتیں، ’ظ‘ ظالم کوئی خبر نہیوں ع عشق دے کٹھے عاشق، ’غ‘ غصہ تے جبر نہیوں ف فائدہ کی شکویاں سندا، ’ق‘ قسمت وچ اجر نہیوں ک کتھے چھڈ گیوں ماہی، کجھ حنیف نوں صبر نہیوں
According to Hadith literature, the Quran is revealed in seven Ahruf, the plural of harf. Ahruf are distinct from Qira'at. This is a very momentous and lengthy topic, indeed, one of the most complicated discussions on the sciences of the Qur’an. It is very difficult to discuss it in full details in this work but the important things about it are being presented in this article. The first problem we face with this Hadith is what is meant by the Revelation of Qur’an on Seven “Ahruf”? We find a great deal of difference of opinion on this subject. Up to thirty five different views have been quoted by Ibn al-‘Arabi and others. Some of the popular views are quoted in this article. The context of these narrations indicates clearly that the word ‘seven’ does not denote an unspecified large number but it denotes the specific numerical value ‘seven’. Hence, in the light of these narrations this view (that seven means more than that) does not hold good and the majority of scholars reject it. In the vast collections of Hadiths, we do not find any mention of difference in the Qur’an other than that accounted for in “ahruf”. How then may we explain differences in reading and “ahruf”? I have not been able to find a satisfactory answer to this confusion with the advocates of this theory.
One of the important properties of heterocyclic compounds is their thermal and chemical stability, which makes them significant in synthesis of thermally and chemically stable liquid crystalline compounds. Incorporation of heterocyclic ring in the molecules changes the polarizability, phase transition temperatures and type of mesophase. These heterocyclic liquid crystalline materials have great potential applications like spatial light modulation, optical signal processing, optical information storage, organic thin-film transistors, fast-switching ferroelectric materials and fluorescent probes. In the present work, azole (tetrazole, thiazole, oxadiazole) based liquid crystalline molecules were prepared. The tetrazole derivatives having two benzene rigid cores with various linking units, i.e., single bond, ester, an ester and a double bond, ether and triple bond, were synthesized. The tetrazole moiety was also incorporated in side chain tetrazole liquid crystalline polymers. Furthermore, molecular architecture was designed by incorporating thiazole, oxadiazole moiety and two benzene rings using a single bond as linking unit. In addition, molecular structures with pyridine and oxadiazole rigid cores and ester functionality as linking unit were also synthesized. The long alkyl and alkoxy groups were introduced at the peripheral rigid core units. The structure characterization of all the synthesized compounds was performed employing IR, NMR and CHNS analysis. The liquid crystalline properties of the compounds were evaluated through DSC, POM and XRD analysis. The tetrazole derivatives with ester linking group showed enantiotropic nematic (N), chiral nematic (N*), chiral smectic A (SmA*) and smectic C (SmC) phases. The smectic phase appeared with increased alkoxy chain length. The liquid crystalline range also increased with increasing length of alkyl chain. The tetrazole derivatives with ester and double bond linker also exhibited enantiotropic nematic phase. Moreover, the compounds with triple bond as linking unit manifested monotropic nematic phase with very narrow mesophase range. Furthermore, tetrazole derivatives with ether linking unit and oxadiazole and thiazole derivatives proved non-mesogenic. The tetrazole polymers demonstrated SmA phase. A single nematic mesophase with large transition temperature ranges was observed for oxadiazole and pyridine derivatives. The synthesized tertazole derivatives with perfluorobenzene ring, ether and single bond linking units showed sharp melting temperatures and were non-mesopmorphic